By Ledgerback, in collaboration with Joshua Sagisi
Trading Energy: Will the Brooklyn Microgrid disrupt the energy industry?
How the Brooklyn Microgrid is attempting to localize the energy industry by combining blockchain and microgrid technology
The energy industry is an industry that can reap many benefits from blockchain technology.
In the energy industry, blockchain has many applications such as carbon emissions accounting, peer-to-peer (P2P) energy trading (synonymous with local energy trading), incentivizing renewable energy production (e.g., Solarcoin), and improving “smart” meters [3][4][5] .
For this piece, we shall discuss P2P energy trading, the two major technologies that can make it possible, blockchain and microgrids, and the Brooklyn Microgrid, a P2P energy trading microgrid project in Brooklyn, New York.
P2P Energy Trading
P2P energy trading is just as the name entails, the trading of energy from one person or entity (producer) to another person or entity (consumer), without the use of an intermediary.
